OPEC urges oil producers to prevent return of surplus this year

OPEC comments in its monthly statement

  • 2019 global oil demand growth forecast unchanged at 1.24 mil bpd
  • Encourages OPEC members to continue with output cuts strategy
  • Says that producers are responsible for preventing return of imbalance
  • Says ‘strong growth’ in non-OPEC output highlights need for OPEC+ producers to continue supporting market stability this year
More to come…
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